Builders Risk Insurance Agency In Western MA

Builders risk insurance is essentially a form of property insurance. It covers the property while it is being constructed. Property owners may take out a builders risk insurance policy, but more often it’s a policy the contractors must take out.

Areas of key coverage include, damage caused by hailstorms and, of course, fire. Normally, the policy will also cover theft and vandalism and damages caused by vehicles hitting the building (though you should note, you may not be covered in the instance any of these are caused by an employee). To ensure you have adequate coverage, policies may be set to a fixed percentage of the total cost to construct the property. A key point to check is how long the policy goes for because it usually won’t allow for extensions in the construction timeline.

It is important to note what builders insurance does not cover. It will not cover specific risks such as flooding at a beachfront construction, or earthquakes while constructing on a fault line. Additionally, it does not cover workers’ injuries, meaning you’ll need legally required workers’ compensation insurance, to cover for accidents concerning your workers well-being on the job site. 

Pearson Wallace business insurance agents operate throughout New England and Massachusetts serving: South Boston, East Boston, Dorchester, Amherst, Pittsfield, Southern Berkshire County, Sheffield, Great Barrington, Lee, Lenox, Stockbridge, West Stockbridge and all towns and cities in Western MA.

We can help you decide which policy is best for your business’ situation. Our representatives make the complex process of finding the right coverage easy to understand.